PwC Italy has partnered with blockchain consultancy, SKChain Advisors to create an identity solution based on blockchain technology for the European Union. This project follows the requirements of the European Digital Identity Wallet (EUDI Wallet) as defined by the eIDAS 2.0 regulation. The system builds a secure self-sovereign identity (SSI) framework that lets users handle their individual information while skipping dependence on centralized governance entities.
The World Mobile Chain is the platform to build this solution because it operates as a Layer 3 protocol on Coinbase’s Base network. This infrastructure provides secure platform access to European enterprises and consumers with regulatory standards compliance built into the system. Users will experience improved access to Web3 and traditional services by implementing blockchain authentication systems for identity confirmation.
Regulatory Compliance and Security Enhancements
PwC Italy and SKChain Advisors conducted a feasibility study to determine the best SSI framework for the European market to implement this initiative. The proposed system enables authentication, verification, and digital asset service interaction under EU regulatory standards, particularly the Markets in Crypto-Assets (MiCA) framework parameters.
A growing number of organizations decided to utilize SSI technology because it delivers superior privacy protection and enhanced security measures. EUDI Wallet and additional EU blockchain-powered identity system policies demonstrate that the European regulatory environment will embrace blockchain-based identity solutions as standard mechanisms. The upcoming digital identity product provides users with simplified access to multiple sectors while giving them full ownership of their personal information.
World Mobile Chain Integration for Scalability
The digital identity solution operates as part of World Mobile Chain, a blockchain network that enables decentralized applications. This Base Layer 3 protocol provides enterprises with scalable and efficient blockchain identity authentication solutions.
PwC Italy and SKChain Advisors are working to develop digital identity frameworks to improve EU standards. The implemented solution exploits blockchain technology for enterprise user authentication systems maintaining user privacy while adhering to compliance standards. The project represents a substantial advancement for standardized digital identity solutions that the European market seeks to develop.